Canada's Kulczyk Oil Ventures has halted the development of its well in
northwestern Syria amid the seven-month revolt against the regime of
President Bashar Assad. Kulczyk subsidiary, Loon Latakia, suspended drilling
of the Itheria-1 well after 2,000 meters, well below its planned depth of
3,256 meters.
"KOV will continue to monitor operating conditions in Syria to assess
when, and if, a recommencement of its Syrian operations is possible," the
Calgary-based company said on Oct. 17.
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Over the last three months, both the European Union and the United
States have banned energy projects in Syria.
Kulczyk said the Assad regime
rejected the company's request to delay development of Block 9, a 2.48
million-acre area located 200 kilometers east of Latakia and near heavy
fighting between security forces and rebels.
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